KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
Sony Group Corp shares jumped nearly 6% after the Japanese conglomerate delivered a surprise profit rebound and lifted its full-year earnings outlook, easing investor concerns over rising costs and margin pressure. Sony now expects operating profit of ¥1.54 trillion for the financial year ending March, up from its earlier forecast of ¥1.43 trillion . In the December quarter, operating income climbed 22% to ¥515 billion , beating market expectations, while revenue edged up 1% to ¥3.71 trillion . The upbeat results were driven largely by resilient demand for entertainment content , particularly in gaming and music. The PlayStation segment benefited from strong software releases, including Battlefield 6 , Call of Duty: Black Ops 7 , and Sony’s own Ghost of Yōtei . Software sales rose to 97.2 million units , while PlayStation 5 console shipments reached 8 million units during the quarter. H...